Poh Kong remains stable as gold demand holds firm
KUALA LUMPUR: Poh Kong Holdings Bhd expects gold demand to remain strong as global trade tensions and tariff-driven disruptions push investors toward safe-haven assets like gold.
'During tariff-induced economic disruptions, gold demand typically surge as investors seek protection against inflation and market volatility, and the metal's role as a safe-haven asset,' the jeweller said in a filing with Bursa Malaysia.
Poh Kong noted that global trade tensions are significantly disrupting production and trade patterns.
The group said it will continue to monitor the impact of these uncertainties on its operations, while upholding its financial obligations and evaluating performance on a continuous basis.
'Barring unforeseen circumstances, the board of directors is confident that the group has put in place adequate measures to meet the challenges ahead for financial year ending July 31, 2025,' Poh Kong said.
In the third quarter ended April 30, Poh Kong posted a flat net profit of RM47.6mil, or earnings per share of 11.60 sen, bringing its nine-month profit to RM98.5mil, or 24.01 sen per share.
Poh Kong said overall uptrend in gold prices had improved the operating profits in the current quarter under review.
Revenue for the quarter rose 2.7% to RM533.9mil, lifting the nine-month revenue to RM1.32bil.
The increase in revenue was mainly due to the surge in gold price during the quarter under review.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
8 hours ago
- The Star
FBM KLCI ends slightly higher amid lack of catalysts
KUALA LUMPUR: The local bourse ended marginally higher on Monday, in line with regional gains, as a lack of strong catalysts kept investor sentiment subdued. The FBM KLCI ended 1.88 points higher, or 0.12%, at 1,519.99, after trading between an intraday high of 1,521.38 and a low of 1,512.26. There were significantly more decliners than gainers on the market, with 613 stocks falling compared to 321 gainers, while 509 counters remained unchanged. Total trading volume stood at 2.84 billion shares, with a value of RM2.05bil. On Bursa Malaysia, Kuala Lumpur Kepong was the day's top gainer, rising 42 sen to RM20.12. Other top gainers included Westports, which added 36 sen to RM5.03 and PPB, which gained 34 sen to RM10.98. Nestle was the top loser on Bursa Malaysia, tumbling RM1.10 to RM72.72. Ayer declined 50 sen to RM6.70, Hong Leong Financial Group fell 32 sen to RM16.04, and Carlsberg lost 32 sen to RM19.26. Meanwhile, the ringgit was quoted at 4.2448 against the US dollar, up 0.023%, but slipped 0.17% to 3.3155 against the Singapore dollar. Major indices across the region closed higher, with Japan's Nikkei 225 rising 1.26% and South Korea's Kospi climbing 1.8%. Hong Kong's Hang Seng Index added 0.7%, while China's CSI 300 and Shanghai Composite Indexes rose 0.25% and 0.35%, respectively.
The Star
8 hours ago
- The Star
Poh Kong remains stable as gold demand holds firm
KUALA LUMPUR: Poh Kong Holdings Bhd expects gold demand to remain strong as global trade tensions and tariff-driven disruptions push investors toward safe-haven assets like gold. 'During tariff-induced economic disruptions, gold demand typically surge as investors seek protection against inflation and market volatility, and the metal's role as a safe-haven asset,' the jeweller said in a filing with Bursa Malaysia. Poh Kong noted that global trade tensions are significantly disrupting production and trade patterns. The group said it will continue to monitor the impact of these uncertainties on its operations, while upholding its financial obligations and evaluating performance on a continuous basis. 'Barring unforeseen circumstances, the board of directors is confident that the group has put in place adequate measures to meet the challenges ahead for financial year ending July 31, 2025,' Poh Kong said. In the third quarter ended April 30, Poh Kong posted a flat net profit of RM47.6mil, or earnings per share of 11.60 sen, bringing its nine-month profit to RM98.5mil, or 24.01 sen per share. Poh Kong said overall uptrend in gold prices had improved the operating profits in the current quarter under review. Revenue for the quarter rose 2.7% to RM533.9mil, lifting the nine-month revenue to RM1.32bil. The increase in revenue was mainly due to the surge in gold price during the quarter under review.
Malaysian Reserve
9 hours ago
- Malaysian Reserve
Bursa Malaysia rebounds to close higher in line with regional markets
KUALA LUMPUR — Bursa Malaysia recovered its earlier losses to close marginally higher, supported by renewed optimism in the data centre segment and a sectoral rotation into defensive plays, as investors positioned cautiously amid heightened geopolitical tensions. The rebound is in tandem with most regional markets performance, with investors anxiously awaiting several central banks' meetings this week, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.88 points, or 0.12 per cent, to 1,519.99 from last Friday's close of 1,518.11. The benchmark index, which opened 0.24 of-a-point lower at 1,517.87, moved between 1,512.26 and 1,521.38 throughout the trading session. Market breadth was negative, with decliners thumping gainers 612 to 321, while 509 counters were unchanged, 973 untraded and 21 suspended. Turnover narrowed to 2.83 billion units worth RM2.04 billion compared with Friday's 2.88 billion units valued at RM2.06 billion. UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said the FBM KLCI performance today signalled continued resilience in Malaysia's domestic economy. Gains were led by technology and utilities counters, particularly those with strong domestic exposure. 'Today's market performance also mirrored patterns observed during the onset of the Russia–Ukraine conflict, with plantation and energy stocks driving sectoral gains on Bursa Malaysia. 'This reflects a broader shift towards commodities and inflation-sensitive sectors in times of geopolitical uncertainty,' Mohd Sedek told Bernama. Despite these risks, he added that the regional equity markets broadly rebounded, underpinned by an improved macroeconomic outlook in the United States. Meanwhile, SPI Asset Management managing director Stephen Innes said today's market activity appeared more like rotation rather than panic selling. Local funds were favouring lower-risk regional exchanges — those with deeper liquidity and larger defence companies — as geopolitical hedging becomes an integral part of their strategy. 'Bursa Malaysia lagged behind other markets initially, but by the close, it managed to hold up relatively well,' said Innes. Among the energy-related heavyweights, Tenaga firmed 6.0 sen to RM14.36, Petronas Gas rose 12 sen to RM17.96, Petronas Chemicals ticked up 7.0 sen to RM3.40, and MISC climbed 8.0 sen to RM7.58. For other heavyweights, Maybank was 11 sen lower at RM9.59, Public Bank eased 2.0 sen to RM4.23, CIMB shed 7.0 sen to RM6.75, and IHH Healthcare was 1.0 sen better at RM6.91. Among the most actively traded stocks, MYEG shaved 2.5 sen to 93 sen, Tanco eased half-a-sen to 95.5 sen, while Thrive Property Group, NexG, Velesto Energy, and Reservoir Link Energy added half-a-sen each to 1.5 sen, 35.5 sen, 19 sen, and 36 sen respectively. On the index board, the FBM Emas Index slid 9.39 points to 11,360.79, the FBMT 100 Index fell 5.69 points to 11,138.35, but the FBM Emas Shariah Index increased 44.13 points to 11,373.66. The FBM 70 Index declined 85.25 points to 16,283.46 and the FBM ACE Index dropped 15.38 points to 4,471.81. Sector-wise, the Energy Index advanced 11.40 points to 752.16 and the Plantation Index surged 129.35 points to 7,350.27. The Financial Services Index slipped 147.25 points to 17,501.00 and the Industrial Products and Services Index trimmed 0.22 of-a-point to 151.13. The Main Market volume narrowed to 1.25 billion units valued at RM1.80 billion from 1.37 billion units worth RM1.81 billion registered at Friday's close. Warrants turnover expanded to 1.35 billion units worth RM171.62 million versus 1.16 billion units valued at RM151.36 million previously. The ACE Market volume dwindled to 228.89 million units valued at RM74.30 million against 359.88 million units worth RM97.50 million on Friday. Consumer products and services counters accounted for 210.90 million shares traded on the Main Market, industrial products and services (166.96 million), construction (85.22 million), technology (165.43 million), SPAC (nil), financial services (68.42 million), property (132.48 million), plantation (19.66 million), REITs (27.72 million), closed end fund (27,000), energy (207.16 million), healthcare (61.74 million), telecommunications and media (33.36 million), transportation and logistics (38.82 million), utilities (33.58 million), and business trusts (1,300). — BERNAMA
